He was due to play Northern Ireland’s Rory McIlroy in the second round after opening with a win over Argentina’s Emiliano Grillo.
But in a note posted to Twitter, Woodland said he dashed home to be with wife Gabby during the terrible ordeal.
He wrote: “Last week I withdrew from the WGC-Dell Technologies Match Play to be with my wife, Gabby, as there were complications with our recently announced pregnancy with twins.
“Gabby and I have since had to cope with the heartbreaking loss of one of the babies, and our doctors will be closely monitoring the health of my wife and the other baby for the remainder of the pregnancy.
American Gary Woodland is one of the biggest hitters in the game todayGetty ImagesGabby Woodland and husband Gary have suffered a devastating lossGetty Images
“We appreciate all of the love and support during this difficult time as we regroup as a family.
“At this point in time, I plan to play the Masters next week.”
Woodland, 32, from Shawnee in Kansas, is due to become a first-time dad.
Just three weeks ago he shared a photo of an ultrasound image of the two babies.
Gary Woodland is seen as a golfer who has bags of potential on the PGA TourGetty Images
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He captioned it: "First time I've been excited about a double #twins."
Fellow PGA Tour golfer Ricky Barnes was among the first to tweet their condolences to Woodland.
Barnes wrote: "Thinking of you and the family bud! Hope Gabby is well and look forward to having you back out here. Thoughts and prayers!"
Woodland has two wins on Tour, the most recent coming in August 2013 at the Reno-Tahoe Open.
He is ranked 35th in the world and is a previous World Cup winner.
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